1. Two payments of $6,000 and $5,400 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 6 months and in 4 years if money is worth 5% compounded quarterly 2. What single payment today would replace a payment of $2,450 in 3 years and a payment of $5,500 in 5 years if the interest rate is 4.10% compounded semi-annually? 3. Payments of $1,600 in 1 year and another $2,800 in 4 years to settle a loan are to be rescheduled with a payment of $900 in 18 months and the balance in 24 months. Calculate the payment required in 24 months for the rescheduled option to settle the loan if money earns 4.7% compounded quarterly during the above periods. IS F